Goldman Sachs nears deal to sell its fintech app: source

Goldman Sachs is in advanced talks with several financial companies to spin off its three-year-old app, Simon, which sells complex financial products to retail investors, a source familiar with the matter told Reuters.

Several companies, including JPMorgan Chase & Co, Barclays Plc, HSBC Holdings Plc, Credit Suisse, Wells Fargo & Co and insurer Prudential Financial Inc, have shown interest in the app, which is expected to be valued at about $100 million, the source said.

Simon, or Structured Investment Marketplace and Online, is part of Goldman`s web services platform, Marquee, which offers risk management and analytics tools to clients.

Goldman`s shares were up 2.1 percent at $223.71 in mid-day trading.

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